Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1887-12-15
PRESIDENTS MESSAGE.
TKE SURPLUS AND THE TARIFF.
The Danger OF Too Much Cash in the
Vaults-Re-adjustment Rec
ommended.

receipts from all sources largely exceeds the
sum necessary to meet the expenses Of the
government; that during the year ending
June 80, the excess was over 1fty-fve mil
lions The President then shows that it be-
came necessary to call in the three per cent.
bonds, also4 and ~ per cents. interests on
other bonds were anticipated and banks Sc
lected ns repositories of public money were
permitted to increase their deposits. Not
withstanding all this the surplus continued to
increase, and by June 80 next, 1t is expected
TO amount to one hundred and forty mil
lions. The supposition that the secretary OF
the treasury may make further bond pur-
chases seems to be the only relief in the pow
er of the executive. The only provision Of
law from which such a power could
be derived Is found in an appropriation bill
passed number of years ago; and is subject
10 the suspicion that 1t was intended as tenn
porary, and limited in its application, instead
OF comforting continuing discretion and au-
thority.
The President therefore wants legislation to
provide checks and limitations, and at the
same time relieve the Secretary Of the Treas
uryfrom dueresponsibility. The President
says;
In considering the question Of purchasing
bonds as means OF restoring to circulation
the surplus money accommodating in the Treas
ury, it tshould be borne in mind that premiums
must of course be paid upon such purchase,
that there may be large part of these bonds
held as investments which cannot be pur-
chased at any period, and that combinations
among holders who are willing to sell, may
reasonably enhance the cost of such honds to
the Government
OF course it is not expected that unneces-
sary and extravag mt appropriations will be
made for the purpose of avoiding the accum-
ulation of an excess of revenue Such ex-
penditure, beside the decentralization of all
just conceptions Of public duty which it en-
dence not in the least consistent with the
mission of our people, or the high and beneH-
cent purposes of our government.
1t need hardly be stated that while the
present situation demands a remedy, we can
only be saved from like predicament in the
future by the removal of It's causes.
Itmust be conceded that none of the things
subjected to internal revenue taxation are,
strictly speaking. necessary; there appears to
ben just complaint of this taxation by the
consumers of these articles, and there seems
to be nothing SO well able to bear the burden
without hardship to any portion of the peo-
pie.
But our present tariff laws-the vicious,
inequitable and illogical source of unneces-
and amended.
1t is not proposed to entirely relieve the
country of this taxation. 1t must be extern
sively continued as the source Of the govern
mcnt's income; and in a readjustment of cur
tariff the interests of American labor en-
gagged in manufacture should be carefully
considered, as well as the preservation of our
manufacturers.
But this existence should not mean a con-
Nv wit nntS rd fO fbk liz,
welfare OF a national exigency, must always
insure the realization of immense profits IN
stead of moderately profitable returns.
As the volume and diversities of our nation
al activities increase, new recruits are added
to those who desire continuation OF the adj
yantages which they conceive the present sys-
tenn OF tariff taxation directly affords them.
So stubbornly have all efforts to reform
! Che present condition been resisted by those
of our fellow citizens thus engagel, that they
Z can hardly complain of the suspicion enter
tained to certain extent, that there exists
an organized combination all a.ong the line
10 MAINTAIN their advantage.
By the last census tits made to app aar that
of the 1883, 099 OF our population engaged
in all sorts of industries, there are actually
2,623, ,O9o persons employed in such manufact-
uring inuustrits as are claimed to be bene-
lted by high tariff. TO those the appeal is
made to save their employment and mann
tain their wages by resisting a change
There should be no disposition TO answer such
suggestions by the allegation that they are in
a minority among those who labor, but the
reduction OF taxatlon dem lnded should be SO
measured as not to necessitate or Justify ths
loss Of employment by the workingman, nor
tie lesssnlng of his wages, and the profits still
remaining 10 the manufacturers, atter neces-
sary reaujustment should furnish no excuse
for the sacrifice of the interests of his en-
ployees either in their opportunity to WORK or
in tine dimmution of their compensation. Nor
can the worker in manufactures fail to under
stand that while high tariff is claiIne1 to be
necessary to allow the payment OF remurler-
alive wag.S, 1t certainty results III q Very
large inc. ease in the price of Leariy all sorts
OF manufacturers, which, in almost countless
forIis he needs for the use Of himself and his
family. He receives at the desk OF his EN-
ployer his wages, aud perhaps before he
reaches his home is Obliged in u
purchase for faith OF an article which em-
braces his own labor, to return in the pay>
ment Of the increase in price which the tariff
permits, the hard earned compensation OF
many days of toll The farmer and the agri-
culturst who manufacture nothing, but who
pays the increased price which the tariff inn
poses uponeve agricultural implement, up
on alt lie wears ana upon all he uses anu owns,
except the increase OF his focks and herds
and such things as his nusbandry produces
from the soil, is invited to all in maintaining
the present si.uation, anu he is told that q
nigh duty OIL imported wool is necessary for
tile beilefiJ Of those who have sheep to smear
in order tina the price OF their wool may be
increased. The President then attempts t.
prove the fallacy OF such an argument, intro
uucing facts and figures, and says: Wnen the
nuillDer OF farmers engaged i'll Mool raising i
compared with all the farmers in The country
ana the small proportion they bear to our pop
nlatinnis cs-Sl Aelxds when IT is made. ap.ak
rent that, In the case OF a large part Of these
VINO own sheep, tho benefit of the present tar
if on wool IS liiusory and above all, when i
must be conceded that the increase OF th,
cost Of living caused by such tariff becomes
burden upon those with moderate means ane
1 he poor, rhe unemployed and employed, th,
sick anu well, and tue young and old, and thai
it constitutes tax which, with relentles
grasp, is fastened npon tine clothing or every
man, woman ami child III the land, reaso..,
are Sui gested why the removal or leducriui
Oh the uuty should De luciuded III revis4ol
K of our tarlH laws.
In st,eagliig of the increased cost to the
consumer uf our home manufactures, result
ing from d uuty laid upon imported articles
or Jue same description, the IacG Is not over
looked GlaG competition among our domeStlf
producers Soflet llileS has tLe erect OF keepltt
B lie price or ;tleil, pfouuctS Gel0w the nigaes
limit howeu ny slch anty. Lu5 lt Is aoto
riotis THAT lh.s colnpsClelon is toe oTtel
srrangled by combinations quite prevalent al
this time, and frequently called trusts, which
7 have for their object the regulation OF the
supply and price Of commo Titles made and
sold BY members Of the combination. The
4 people can hardly hope for any consideration
in the operation Of these selfish schemes. The
necessity Denomination to maintain the price